Azimut Benetti S.p.A, Ferretti SPA, Lürssen, Feadship, Fincantieri S.p.A., Horizon Yacht USA, and Heesen Yachts Sales B.V., among others, are the major players in the global luxury yachts market.
In the forecast period of 2022-2027, the global luxury yachts market is expected to grow at a CAGR of 8%. As per the analysis by Expert Market Research, the global luxury yacht market is being driven by the rising population of high-net-worth individuals, particularly billionaires, as they constitute the major consumer group in the market.
The growth of the maritime tourism industry, aided by several government initiatives, has boosted the growth of the luxury yachts market. The innovative features being introduced in yachts is bringing a lot of attention to the market. HVAC systems, radar, navigation, TV, autopilot, and a dependable power generating system are some of the spectacular features in the yachts. Another important feature is the use of lighter hull material like fibre reinforced plastic (FRP), which increases the speed and reduces the fuel consumption of the yacht. All these factors are expected to significantly propel the market growth in the forecast period.
The market in the European region is expected to witness a tremendous growth in the near future owing to the increasing technological advancements and R&D activities. The rising investments in Europe to ensure luxurious, comfortable, and high-quality interiors are further expected to bolster the market growth in the region. Some of the major regions in the European market for luxury yachts are Italy, the United Kingdom, and the Netherlands. Italy is one of the most significant markets for luxury yachts due to the strong presence of domestic yachts manufacturers and favourable government policies in the region. The market in the Asia Pacific region is also a major emerging market for luxury yachts due to the rapidly developing economies, increasing disposable incomes, and the growing manufacturing sector in the region. The growing luxury tourism sectors and favourable government initiatives are expected to propel the market growth in the region. Some of the major markets in the region are China, Japan, Singapore, Australia, Thailand, the Philippines, Indonesia, and Malaysia.
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This company is the global leading builder of mega yachts and is the largest private group in the yacht sector. The company operates in 68 countries with a huge network of 138 sales and assistance offices. The company owns the famous brands Azimut Yachts, Benetti Yachts, Yachtique, Lusben, Marina di Varazze and Royal Yacht Club Moscow and offers a vast range of exclusive motor boats from small boats to huge yachts.
This company is a leader in the design, construction, and sale of luxury yachts. The company’s portfolio has some of the most famous brands in the sector, namely, Ferretti Yachts, Riva, Pershing, Itama, CRN, Custom Line and Wally. This Italian company is known for its utmost quality, superior technology, safety, and optimum performance, and sells their products in over 70 countries globally.
Lurssen deals with the design and construction of yachts, naval ships, and special vessels. This company is known for their superior quality and innovative technology and has delivered some of the world’s best luxury yachts such as Azzam, Dilbar, Al Said, and Nord.
This company is regarded as a leader in the custom superyacht sector. It deals with the design and construction of high-end luxury superyachts and has also built some of the famous superyachts such as Aquarius, Symphony, and Venus. This company is known for its superior standard in design, construction, and engineering of superyachts and is globally renowned in the yacht sector.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.